Ascending triangle in a downtrend, below the moving averages, falling volume, flat RSI on this timeframe, long rejection wicks on the hourly timeframe, seriously weak Euro and NZD after last nights report, but whose going to be weaker, I choose the Euro, in the down trend.
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We've broken down through the descending triangle bottom, we'll carry on beyond 1.697
Trade active
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Trade active and profitable - 21/05/2018 - 04:25 @1.7042 - target 1.6105
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Look at those candles rejecting the moving average and lots of heavy bearish volume, we're going down! Beautiful
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We're currently stuck in a range, if you're not in this trade, catch an entry at the top, and wait for the breakout, to continue the downtrend, how do I know it will continue down?
We're divergent on the daily chart and volume is declining on the way, meaning we have a bearish bias and that's the direction we're going in, but obviously, we might now, anything can happen, once we break to the downside, I'm looking for my first target down at 1.69650
Trade closed: target reached
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Taken profit target, I'll let the rest run....
Trade closed: target reached
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Second target achieved, this turned into a lovely trade
Trade closed: target reached
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Final target achieved.
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Re-entered this pair @1.68 a lovely move down afterwards
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Smashing through the 200 EMA was an important breakthrough, target now 1.62